New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-06-21
TRACING BROADWAY BONDS
sHAKp.s ASSOCIATES WANTED CASH.
m MANY cAsrs 81 900 BILLS WE'RE SECURED
DUMMY DIRECTORS.

.~ w.xv c.sys al 600 BILLS WE'RE SECURED
DUMMY DIRECTORS
Juarur by Jacob sharp's appearance yesterday morn
s.s there IL no particular why his lawyers s"a
doctors should have objected vigorously 70 MS eePns
An Ludlow Street Jail while bis trial going ON =.
allowed no signs OF that havoc which, wss ,s'" 'n'
confinement would work with his system On 'n' Vo'.
-. ~, ,,,s.s u,u.ualy fresh Evidently his siumoer
had mot been disturbed by nocturnal vists'ohs on
,h g.o., Of Bcs." Tweed. who might be supposed 70
haunt the chamber in Ludlow street JAN WHICH wi"
slvays be associated with his memory.
was devoted TO further examination
az ,ummv drectors as Mr. stckney apty called them
v,r.t came william n. NcLean, dummy director" ana
secretary Of tho broadway Surface road Inc s'ocA
transfer book OF the company. which be prousns w"
him into court, he surrendered 10 MI NcoiL nc e"t
ned tina stock ledger OF the Broadway SURFACE roa
-. -. a, IN. maintain yielding mouse, nut IL may
a.v.,oo nto nm important and much needed mouse Inc
hulav volume contained only entry IL was a. io
lows .,.. NJ ,
$3.50 shares" a.. o.,v
an. ever detached from stock certificate book MI
s,ckusy read the certificate which showed that snarp
had transferred the O520 shares 20 Foshay ior 'he oeH
aft OF the seventh Avenue Company
.pummy Director John H. Pentz, who hai tes'ihea
nm Saturday was recalled TO the stand aud testned 70
hlsgnorance OF great many things that dreo.or o'
so,opany might be expected 10 know He voted Just ~
Mr. Foshay wanted him TO vote
william BIRD didn't like II at all when Mr. stickney
..ked him II he had dummy Director out he re-
rl,ed OF suppose So" aud then murmured some In
audlbe protest against being called dummy Iu MS
c,,,eltv Of nominal treasurer he had sgned the
a, 900 600 Of bonds issued by the company. Mt SUCK
ney stated that time tae defence woud oohceao
tina, the bonds were issued by the company and
70 sharp In the latter part Of juno 1850 MI piru
had voted for the authorizing the issue OF the
rofaa idea0 f al
f.r with Mr. stckney's assistance he stated tha ne
understood that he the board OF the broao"ay
Surface protect ais interest In the broadway anu
Seventh Avenue Company. He wanted TO prevent inc
broadway Surface road from falling INTO hosuie hanus
and possible help get for the Broadway and Seventh
Avenue Company.
sharp. son In law John II. selmcs, was recalled AS
"dumtny director he had voted for whatever resolu
t,ons came up without botheriug his head much about
them.
MR. scErBYER WITH CHIP on HIS SHOULDER
John NJ scribner, the lawyer. was then reexamined.
There was that In the expression of Mr. scroners eye
which .eemed 70 indicate that he had chip on his
seoulder and that anybody attempted TO knock IL on
there would be "row" Therefore Mr. NicoH was as
posed to deal with him tsndery Tho witness said tnat
he became director In the Broadway surface roso !"
ths reouest OF either Mr. Foshay Mr. Kerr He bad no
oub, that he drafted the resolution authorizing an ap
pcasn TO the General Term after the failure to secure
the consent OF the requisite number Of properly owners
70 The ne sSsya Fs,Ssy and obsr, Concerned Neither
he nor his firm was responsible for the plan nnuer
Which 'nS 'b,s as IN other matters they had
SIMPLY tried to follow the instructions Of their clients He
asSsssd the agreements between Broadway surface
and broadway and seventh Avenue roads 1ne inser
and Seventh Avenue and the Twenty -thlrdst kaiway
Of soooo3o Of bonds o. as shs sSnss he did so
not independent director but as LAWYER serving
his clients but at the time whom he gave hs vote ne ad
not nd aud
Mir sharp Mr. Nlcol asked II when nc voted for the
%s 81 ra sss 20 SSS. fs the ' cost Of building depot
bes. Mr. Ncolrs object was to show mat me s11se
yet any assistance In that direction from MT scrbner
for the latter replied warmly ina, nn the d.
position that his Giants knew great deal more nsn ne
did about such matters, aud knew what they wanted
doue and he. therefore, did not concern
subject .,, ,,.,... .hor ,ho,o mat
an ever saw William Mooney at our Office. prior TO
raSsscked ,ay memory because supposed that you
NJ was hs npdersisndng that the original scheme DID
not contemplate the Issue of more than sl5ooooo OF
To Mr. stckney he said that he understood that Mr.
eharps efforts In the matter had been In the Interests OF
ceded that II any other company got control OF Broad
way below Foureenth-st the Broadway aud sevsn ta
Avenuc Company would be ruined In carrying out the
wishes Of his cenis he had also acted for what he u
dersocd The best interests Of the Broadway and
Mr. sickney thought he chance to make point
obtain the right construct road down broadway In
it's own manner he asked. . . .,. =,
I'm. face fell when Mr. scribner replied: "well,
thought So" but he frightened up again when MI
scribnsr said that the opinion OF many lawyers
the seventh Avenue road could not Legally nave
undertaken the construction OF road in lower Broad
way because Of the restrictions placed on the actions OF
Then Mr. Sieoil found what the chip Mir Serb
ners shoulder. Mr.. scribner didn't intend TO dvuige
anything that had been communicated to him ny MS
clients because he understood that the law forbade h
Ills tone implied that he did not at all regret that the
law ala place such restrictions on him. Al MI scriD-
nets Office there Is sort OF general memo
ranjum book describing the comngs and gohgs
and doings at his Office, conversations with clients etc
No. Mr. >crbncr wouldn't produce this BOOK ana woulhnt
even bring court that he might refresh bis mem
DRY by consulting 10 while In the witness chair Nothing
Would he 10 unless compelled order from
the Court Mr. scri6ner looked fnll OF ight when MI
Ncol nmaed that later on he might ask the assistance
of the Court IN the matter.
After recess the first witness called was Thompson
the sgners OF the articles OF incorporation OF the Broad
way Surface road and had subscribed for ten shares OF
the stock lie asked 10 anything and the
stock was never delivered 20 him. and he made transfer
OF 10 10 the Philadelphia syndicate. . 49,
Mr. Nco the jury the proceedings OF the Board
Aldermen their meeting June 70. 1854, at which
the resolutions offered by Alderman OConnor were ro
ferred to The Railroad Committee Then he called Will
lam j. Ramsay clerk OF the Broadway and Seventh Ave
nue. Railroad Company. who produced the minute book
of the directors and remembered entering In IL
minutes OF meeting OF the Board held on a. July
mortgage bonds bearing per cent interest for
the purpose carrying out the contract made with the
Broad way Surface Railroad Company. Mr.. Nicol then
caei witnesses 10 show to whom the bonds went and
that the for them was either In cash or the
checks given therefor Immediately cashed. instead
oi being only carried bar OF the company
The testimony OF these witnesses sho we'd that the bonds
had been disposed OF as follows:
Seymour /. Hustled:
Trust Company. flO,OOO
Cromwell. 10000
Pratt tVVVv V0
81 on 900
IN onn